Does An Entrepreneur Need A Mindset Shift Or A Generous Investor? Here’s What I Think.
The debate on which is the most important – mindset shift or investment is necessary for entrepreneurial success has been an ongoing debate that isn’t about to end anytime soon.
Change of any kind starts internally and intentionally, within the mind. If you want to see changes in your life, whether, in big or small ways, the first thing you have to change is your mindset.
The best way to detach yourself from your old ways of thinking and achieve freedom is to change your perspective on trends and become innovative in your approach. All of these cannot happen without having a mindset shift.
On the other hand, if you have the mindset shift and no investor willing to fund your business or any clear revenue model, then the chances of survival for your business is either stunted or little to none.
In this article, I would be exploring the advantages of how having a mindset shift and how a generous investor can increase your business’ survival and success.
1. Understand your strength
Everyone has a source of inner power that drives them. It’s the strength you draw from to overcome obstacles. However, only a few of us actually realize the extent of the power we have and how we can harness it to make our lives and businesses better.
Many of us don’t see ourselves as capable, dynamic, or influential. Instead of dwelling on our strengths, we’d rather harp on about your insecurities, faults, and mistakes. And what that does is to diminish our abilities and reduce our self-confidence. Inadvertently, it eats away at our strength.
Having a mindset shift will help you acknowledge your limiting beliefs and work towards banishing them. Own your power by understanding what lights you up. What makes you unique? What fuels your passion? Hold on to those things. Continually envision yourself as the badass you know you are.
2. Embrace your worth
Nobody will rate you high unless you do. The energy you give off to people will determine their perception of you. Nothing will cast you in a negative light faster than a “woe is me” mentality. People see you through the lens of how you project yourself. The energy, confidence, and attitude you bring with you are key in projecting yourself as someone self-assured and upbeat.
Therefore, never underestimate your value and worth. And when I say this, I don’t mean your education or credentials (although they are important). Rather, I mean working on your ability to show the world how great you are.
Every interaction you have with people counts. It’s a chance to show and tell them what you have to bring to the table and why you stand out from the crowd. Therefore, be ready to appreciate who you are and the awesomeness in you.
Be ready to utilize every bit of your talent. Go find your inner grit, hone your skills and embrace your worth. No one can be in control of you than you.
How does a generous investor help?
An entrepreneur usually invests their resources and skills into building a strong brand. The unwritten laws of financial literacy don't permit you to commit 100% of your retirement savings to your business and you can’t also use up all of the equity you have either. By spreading the potential liability out to other investors, you don’t have to put your entire financial net worth at risk.
When you find venture capitalists, angel investors, or other funding sources, they know that it would be ill-advised of them to write you a check upfront, they are more likely to make money when they partner with you. By bringing their experience and strengths to the business, they make up for experiences you don’t yet have. Not only do you gain funding, but you gain experienced partners.
Investors will provide strong motivation and moral support as you struggle to launch and build your business. Again, it is to their advantage to help you build a successful business, and they will be proactive in monitoring your progress and applying pressure to watch your spending and optimize revenue opportunities.
Finally, having a mindset shift and an investor willing to fund your business is important. While the former is needed to help you become a better CEO, help you make decisions, improve your social interactions, and boost your self-confidence, the latter is also important for running a business.
Without access to resources, your business's growth can be slow. Whichever of these two you choose should be determined by where your business is currently at. And of course, it’s also possible to choose both and find a way to balance them.